NY -- Standard&Poor's CreditWire 10/31/97 -- Standard&Poor's today assigned its triple-'B' rating to Connecticut Health&Education Facility Authority's $68.59 million revenue bonds series 1997B due July 1, 2022 issued for the Hospital for Special Care (HSC). The ratings reflect unique chronic disease and intensive rehabilitation service offerings, excellent demand, and improving financial profile. Credit risks include heavy dependence on Medicaid for 74% of revenues, high debt levels, and challenges integrating a newly acquired nursing home. Bonds proceeds will advance refund series 1991 A bonds formerly rated triple 'B'-minus ($45 million), construct an aquatic fitness center ($6.5 million), and purchase a nearby 284-bed nursing facility ($10.8 million). The 200-bed hospital provides highly unique long-term supportive care
